Education
About Us
Working with TipRanks
Follow Us
Light & Wonder (LNWO)
OTHER OTC:LNWO
Earnings Data
Report Date
May 05, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.09Last Year’s EPS
0.94Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominately positive operational and financial picture: record and recurring revenue growth, strong consolidated AEBITDA and margin expansion, robust cash flow generation, accelerated unit shipments and scaling of the Grover acquisition, plus strategic investments (AI, R&D) and substantial shareholder returns. Material one-time charges (legal settlement, ASX transition costs, contingent acquisition adjustments) and some operational challenges (SciPlay/Jackpot Party, systems/tables timing, UK tax change, tariff impacts) weighed on GAAP profitability and created near-term noise. On balance, the business demonstrated durable recurring revenue momentum, margin sustainability, and a clear plan to delever and pursue growth, with the negatives appearing largely one-time or addressable.Company Guidance
Record and Expanded Revenue Mix
Q4 consolidated revenue of $891M, up 12% year-over-year; full-year consolidated revenue of $3.3B, up 4% from 2024. Recurring revenue of $2.2B with margin and cash-flow expansion across the year.
Strong Consolidated Profitability and Margin Expansion
Q4 consolidated AEBITDA of $405M, up 29% year-over-year; full-year AEBITDA of $1.44B. Consolidated AEBITDA margins expanded ~500 basis points in Q4 and for full-year 2025.
Significant EPSa and Adjusted NPATA Growth
Adjusted NPATA for Q4 grew 27% to $161M and for the year grew 18% to $567M. EPSa increased 27% to $6.69 for the year.
Gaming Business Outperformance
Gaming revenue in Q4 rose 17% to $602M with gaming operations up 35% to $237M. Gaming AEBITDA grew 26% year-over-year to $323M and AEBITDA margin reached ~54% driven by recurring operations and cost efficiencies.
Installed Base and Unit Shipment Momentum
North American installed base increased 42% YoY to over 48,300 units (22nd consecutive quarter of premium installed base growth). Global gaming machine shipments rose 29% in units YoY to over 12,300; North America shipped a record ~7,000 units in the quarter.
Grover Acquisition Performance
Grover acquisition completed in May contributed $102M of revenue since close, added over 1,000 units since announcement, exited 2025 with >11,600 units installed, and added 345 units sequentially in Q4 — demonstrating fast scaling and recurring revenue contribution.
Digital Segments Showing Strength
iGaming delivered record Q4 revenue of $94M, up 21% YoY, and iGaming AEBITDA rose 44% YoY to $36M with 600 bps margin expansion; wagers processed via OGS grew 22% YoY to $29.2B. SciPlay direct-to-consumer revenue rose to 25% of Q4 SciPlay revenue (from 13% at end of 2024).
Cash Flow, Capital Returns and Capital Structure Actions
Q4 operating cash flow $319M (+58% YoY) and free cash flow $176M (+138% YoY); full-year operating cash flow $794M (+26%) and free cash flow $452M (+42%). Returned $877M via repurchases in 2025 (total $1.9B returned since 2022). Net debt leverage 3.4x within target; available liquidity ~$927M; repriced $2.1B term loan saving ~$5M annually.
Strategic Positioning and AI Investment
Completed sole ASX listing, resolved peer dispute, announced long-term targets ($2B consolidated AEBITDA and EPSa > $10.55 by 2028), and launched an AI transformation (AI-led Carbon game development kit) to improve productivity and game portability.
LNWO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
LNWO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | $96.99 | $94.58 | -2.48% |
Nov 05, 2025 | $73.43 | $79.70 | +8.54% |
Aug 06, 2025 | $90.92 | $77.87 | -14.35% |
May 07, 2025 | $93.63 | $80.54 | -13.98% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Light & Wonder (LNWO) report earnings?
Light & Wonder (LNWO) is schdueled to report earning on May 05, 2026, After Close (Confirmed).
What is Light & Wonder (LNWO) earnings time?
Light & Wonder (LNWO) earnings time is at May 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LNWO EPS forecast?
LNWO EPS forecast for the fiscal quarter 2026 (Q1) is 1.09.